GREATEST GLOBAL COMPETITIVENESS PROGRESS RECORDED IN ARMENIA FOR MACROECONOMIC STABILITY

ARKA
September 9, 2009
Yerevan

YEREVAN, September 9. /ARKA/. In terms of global competitiveness
components Armenia showed the greatest progress for macroeconomic
stability, Chairman of "Economy and Values" research center Manuk
Yerghnyan reported.

The country improved its macroeconomic stability position by 30 points
and is now the 53rd.

This may sound strange, but everything will be clearer if macroeconomic
situation in other countries is considered, Yerghnyan said in Novosti
International Press Center.

The global competitiveness is assessed based on 12 main components –
institutions, infrastructure, macroeconomic stability, health and
primary education, higher education and training, commodities market
efficiency, labor market efficiency, financial market efficiency,
technological preparation level, domestic volume, innovations and
business improvement.

Armenia showed one-point improvement on institutions and became
the 95th. In terms of infrastructures the country is now the 81st
(an improvement of 9 points).

The country’s position of some other components was as follows: health
and primary education (still 97th), higher education and training
(2-point down to 96th position), commodities’ market efficiency
(6 point down to 116th position).

The latter is the weakest point of Armenia due to market
monopolization, the expert said.

The country’s position o n labor market efficiency remains the best
(47th) despite a 2-point reduction.

Progress by 10, 7, 2 and 8 points was recorded on financial market
efficiency (97th position), technological preparation level (105),
market volume (109) and business improvement (112).

Armenia recorded a 2-point fall on innovations and ranked the 108th,
Yerghnyan said.

According to the global competitiveness report prepared by World
Economic Forum for 2009-2010 Armenia remains the 97th among 133
countries in terms of world competitiveness in 2009.